In 2023, Vinexpo Asia is heading for Singapore, a key city for
international trade in Asia-Pacific, especially for wines and spirits.
A key hub for trade
Due to its outstanding coastal location in South-East Asia, Singapore is the world’s second largest commercial port and its sixth largest financial centre. The business environment is stable, dynamic and conducive to trade, a position bolstered by numerous free-trade agreements. Singapore has an open economy and the city hosts over 40,000 international companies.
The Singapore event reaches out to many markets across the Asia-Pacific region, including China, Australia, Korea, Japan and, crucially, young wine markets with high growth prospects such as Indonesia and Vietnam.
Asia-Pacific represents 10% of wine imports worldwide. The outlook for 2025 is for beverage alcohol to grow by 1.5%, rising to +5.9% for the ready-to-drink segment.
World class Singapore
The city of Singapore alone represents a mature and increasingly attractive market with 3% growth forecast for the wine market by 2025. Gastronomy and wine are particularly dynamic due to the remarkable fabric of bars and restaurants, a significant share of which feature in today’s global top 500.
Singapore is also Asia’s most favourable region for the premium segment (42% of sales). Whilst highly competitive, the Singapore wine and spirits market gains ground year-on-year and has the ability to welcome new products, provided their marketing strategy caters to its specific needs.
Through their history and culture, the 5.6 million Singapore residents have an open-minded approach to the world. They have adopted a Western lifestyle and are accustomed to influences and products from around the globe.
Dubbed the ‘garden city’ for its lush greenery – which covers nearly 50% of its footprint – Singapore is also a great place to live and stay. For many criteria, including quality of life, education, healthcare, safety and housing, it ranks high up on the international league table.